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Chevron Phillips Chemical to Study Iraq Plant

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Chevron Phillips Chemical Co., a joint venture between Chevron and ConocoPhillips, signed a letter of intent to evaluate the feasibility of developing a petrochemical plant in Iraq, according to a report from Bloomberg.
Hanaa al-Husseini, a spokeswoman for the Industry and Minerals Ministry, said the company would look into building a new facility and upgrading the existing Iraq-owned petrochemicals factory in Basra province.
Melanie Samuelson, a spokeswoman for Chevron Philips, said that the company wants to assess “the feasibility of developing an integrated petrochemical complex.” Both Chevron Phillips and the ministry declined to give additional details, including cost estimates or dates for the project.Shell Chemicalsagreed in a separate arrangement in April to study the feasibility of a petrochemical plant.(Source: Bloomberg)